Market Research Industry Reports

Payments in South Africa 2017: What Consumers Want

  • DESCRIPTION
  • TABLE OF CONTENTS
  • RELATED REPORTS
  • SAMPLE REQUEST
  • REVIEWS

Payments in South Africa 2017: What Consumers Want

Summary

"Payments in South Africa 2017: What Consumers Want", report examines the consumer payments market in South Africa, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. The report also examines the main regulatory players overseeing the market.

South Africa is a cash-based society particularly when it comes to small-value retail transactions, with cash accounting for 64.5% of the total payment volume in 2017. However, use of payment cards in South Africa is growing at a healthy pace, with a review-period compound annual growth rate (CAGR) of 10.4% in terms of transaction value. Uptake is primarily being driven by the government’s financial inclusion plans, the introduction of basic bank accounts, improved banking infrastructure, and reduced interchange fees. As a result of these efforts consumers are using payment cards more at point-of-sale (POS) terminals than at ATMs. Rising investment in POS infrastructure, the introduction of mobile-only banks, and the proliferation of new payment solutions will further drive electronic payments in the country.

South Africa has a high mobile phone penetration rate, and e-commerce will grow further as consumers become more comfortable shopping on their devices. Contactless payments are, however, still in their infancy in South Africa, and although awareness and ownership are on the rise, usage remains low. Merchants and banks are pushing the technology, with a recent partnership between Shell and Visa allowing contactless payments to be made on the petrol supplier’s forecourts. Major banks such as FNB, Absa Bank, and Standard Bank are also playing their part by offering cards with contactless features.

It provides in-depth analysis of the following -
- Analyzes consumer attitudes to financial services by lifestage.
- Analyzes the major payment card types in terms of both card holding and usage.
- Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.
- Considers consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in South Africa are deploying these tools to meet customer needs.
- Explores the online payment market in South Africa by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.

Scope

- To improve consumer confidence in electronic payments, in July 2016 PASA launched a standardized specification in association with Visa and Mastercard, in order to facilitate biometric authentication on payment cards.
- To promote the use of contactless payments in the country, in September 2016 FNB announced that all its credit and debit cards will support contactless functionality to allow customers to conduct payments up ZAR200 without PIN verification.
- To complement traditional banking, new banking models are being adopted to increase the banked population and debit card penetration. Commonwealth Bank Australia has introduced its mobile-only bank TymeDigital, the license for which was received from the SARB in September 2017.

Reasons to buy

- Understand the key facts and figures in the consumer payments market in South Africa.
- Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out what products the major competitors are launching in the market.
- Discover consumer sentiments towards various payment tools in the South African market and use this knowledge to inform product design.

Table of Contents
Market Overview
Megatrends
Card-based Payments
E-commerce Payments
Alternative Payments
Payments Infrastructure & Regulation
Appendix


Payments Landscape in Slovenia: Opportunities and Risks to 2021

Payments Landscape in Slovenia: Opportunities and Risks to 2021GlobalDatas Payments Landscape in Slovenia: Opportunities and Risks to 2021 , report provides detailed analysis of market trends in the Slovenian cards and

USD 2750View Report

Payments Landscape in Luxembourg: Opportunities and Risks to 2021

Payments Landscape in Luxembourg: Opportunities and Risks to 2021GlobalDatas Payments Landscape in Luxembourg: Opportunities and Risks to 2021 , report provides detailed analysis of market trends in Luxembourgs cards and payments

USD 2750View Report

Quarterly Production and Capital Expenditure Outlook for Key Planned and Announced Upstream Projects in Southeast Asia - Indonesia at the Forefront in Capex Spending

Quarterly Production and Capital Expenditure Outlook for Key Planned and Announced Upstream Projects in Southeast Asia - Indonesia at the Forefront in Capex SpendingIn Southeast Asia, more than 40 key

USD 1500View Report

Construction in South Africa – Key Trends & Opportunities to 2022

SynopsisIn real terms, the South African construction industry registered a growth of 0.3% in 2017. This was preceded by an annual growth of 0.7% in 2016 and 1.7% in 2015.

USD 1950View Report

Fill The Form For Sample Request
Full Name :*
Bussiness Email: *
Email: *
Country :*
Contact No.*
Alternate No.
Note.:*Kindly provide us with your company id and get the sample reports at the earliest.
There is no Reviews available

Delivery Details

PDF FORMAT REPORTS will be delivered by email within 12 to 24 hours after placing the order (Mon-Fri IST)

CHOOSE FORMAT

  • PDF    USD 3450
  • Site Licence    USD 6900
  • Enterprise Wide Licence    USD 10350
$ 3450

Reports Details

Published Date : Jan 2018
No. of Pages :45
Country :South Africa
Category :Financial Services
Publisher :GlobalData
Report Delivery By :Email
Report Delivery Time :12 to 24 hours after placing the order.

Customized Research

If you do not find this specific report suitable to your exact needs then you can also opt for customized research report that will befit all your expectation. To specify your requirements CLICK HERE

 

We Accept

  • fb
  • twitter
  • pinterest
  • linckedin
  • rss
  • youtube